Mine exploration in argentina always experiences improvement along with the increasing of demand mine raw material. the increasing of demand of mining products sector makes mining company to do discovery of mine exploration area.

Bid agent project of exploration of mine in Argentina, Ipeem offers to some companies to invest in does exploration of mine in Argentina. Mine exploration area that is on the market counted 4 new mine area.

The contracts are part of a bidding process launched by Ipeem where Canadian companies Malbex Resources and Minera Peregrine de Argentina have offered to invest over 144mn pesos (nearly US$47mn) in the four mining areas.

Envelopes with background information on the companies were opened in May and the second envelopes will now be opened with the bids that will be reviewed by a committee.

Malbex Resources offered to invest 139mn pesos in the areas of Los Amarillos, Los Despoblados and Carmen in Iglesia department.

Minera Peregrine requested the Río Cenicero A and B area in Calingasta department with the promise to invest 5.2mn pesos.

All of the areas contain gold, silver and copper and lie adjacent to the Pascua Lama project and Veladero mine held by Canada’s Barrick Gold (NYSE: ABX).

Last year, Ipeem awarded the La Ortiga area to US-based company Narrow. The entity has two more areas to put out to tender, one in Calingasta department and another in Iglesia department, according to Azcurra.